Monday, September 11, 2017

Mortgage rates finally had a bad day, but everything's relative. This sort of bad day leaves the average lender quoting rates that would have been the best of 2017 any other time before last week. It's only when compared to last week that we'd consider them to be moderately higher.

How much higher are we talking about? Let's put it this way: most borrowers will still be quoted the same interest rates seen on Friday with the weakness being seen in the form of slightly higher upfront costs. [30YR FIXED - 3.875% Top Tier scenarios]

Tuesday:
• At 6:00 AM ET, NFIB Small Business Optimism Index for August.

• At 10:00 AM, Job Openings and Labor Turnover Survey for July from the BLS. Jobs openings increased in June to 6.163 million from 5.702 in May. This was the highest number of job openings since this series started in December 2000. The number of job openings were up 11% year-over-year, and Quits were up 5% year-over-year.